House Insurance

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blue eyes

Member
Jan 24, 2013
12
0
6
HI Everyone
Its my first post so take it easy on me!

I bought a 2 bedroom villa in Casa Linda and I am getting insurance quotes.

They seem quite high 1200.00 US.For 150,000.00 dollar coverage and ten thou for contents,plus third party liability.I will and I am renting it out when I'm not there.Which is about ten months of the year.

Any info on this topic will be greatly appreciated.

Thx blue eyes
 
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bayaguanaman

New member
Oct 22, 2009
266
12
0
blue eyes said:
HI Everyone
Its my first post so take it easy on me!

I bought a 2 bedroom villa in Casa Linda and I am getting insurance quotes.

They seem quite high 1200.00 US.For 150,000.00 dollar coverage and ten thou for contents,plus third party liability.I will and I am renting it out when I'm not there.Which is about ten months of the year.

Any info on this topic will be greatly appreciated.

Thx blue eyes
Click to expand...

Expensive compared to the US or the UK. I am renewing this week for 7m cover for structure and 3m content it will run me 43,000 pesos with the offer to spread the cost over 4 months interest free. Via Franco & Acra brokers in SD. They will also accept payment over the telephone by CC & Debit cards,making the spreading of payment easier as I dont need to travel x4 for the payments. Hope this helps!
 
D

Drro

Bronze
Mar 22, 2006
1,407
102
63
I also use Angie and she has options available now that weren't before. I just renewed with a new policy from Seguro that saves me money and has greater coverage.
 
V

vida

New member
Mar 18, 2010
122
4
0
Has anyone had experience with home or content insurance paying off when it was needed?
 
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palmiche53

New member
Dec 17, 2012
89
0
0
Insurance in DR is a peace of mind but not more than that. When you need to collect you find everything but the money
they should pay you for your loss. Stewart title is a similar reference.
 
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CocoBoy

New member
Feb 23, 2012
217
0
0
Expat13 said:
good question!! any takers?
Click to expand...

Yes. With both Universal and Mapfre for electrical damage as a result of nearby lightning strikes. Universal brokered in Sosua took forever. Mapfre handled by a different agency also in Sosua was faster. When we switched a couple years ago, Mapfre premiums were less for higher coverage levels. We remain with Mapfre.
 
B

blue eyes

Member
Jan 24, 2013
12
0
6
CocoBoy said:
Yes. With both Universal and Mapfre for electrical damage as a result of nearby lightning strikes. Universal brokered in Sosua took forever. Mapfre handled by a different agency also in Sosua was faster. When we switched a couple years ago, Mapfre premiums were less for higher coverage levels. We remain with Mapfre.
Click to expand...
Just want to thank everyone for the responses,very helpful indeed.
One question,Mapfre how do I get hold of them. would like to get a quote.I'm in Calgary so this takes a little more effort,as opposed to actually being there.
 
M

marrkked

New member
May 30, 2013
7
0
0
Seguro Universal is very best for homeowners insurance.They have good team and they pay claims in a more easy way.Insurance is a kind of financial protection.
 
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Criss Colon

Platinum
Jan 2, 2002
21,843
191
0
38
yahoomail.com
About the only thing I see as a real threat to my house is a powerful earthquake.
If that happens, and many structures that have insurance are damaged/destroyed,I see the chances of a local insurance company paying off as "Slim", and "NONE"!
And "Slim" just got on a "Yola" and left for Puerto Rico!
You can't get money from an insurance company that has none.
I would love to see the amount of "Cash Reserves" required by DR "Law" for insurance providers.
Again, "Slim" & "None" come to mind!
Besides, the earthquake , if strong enough to destroy my house, will likely "Destroy" me too! :dead::dead::dead:
CCCCCCCCCCCCCCCCCCC
 
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Criss Colon

Platinum
Jan 2, 2002
21,843
191
0
38
yahoomail.com
"Marked" how do you know so much about "Seguros Universal"???
Have you had a claim on a property you own in the DR paid by them???
You have so much information about the DR in your 7 posts, how long have you lived here?
CCCCCCCCCCCCCCCCCCCCCCCC
 
K

kampinge

Member
Jan 18, 2012
392
0
16
The business idea of insurance is fear. I get quotes every year from Seguros Universal. For a coverage of 60million peso,they won't about 450000:- peso. Thats more than 10% of the rent I can calculate with. I cannot pay that much so Iam are not insured.
I feel like Criss Colon. I don't think they can pay me when a big bang happen.
 
Harleysrock

Harleysrock

Gold
Nov 4, 2012
7,267
90
48
Gaspar Hernández, Espaillat, Dominican Republic
I won't bother b/c of the high cost. I live right on the beach if a tsunami comes or a bad hurricane we are dead, so our property, contents or house are the last of my worries. Earth Quake, I'll just build another house or be dead too.
I hate insurance if it was up to me i would never get any.

Health insurance I should have gotten right away instead i waited till my wife had a lump. Cost was only $800.00 for biopsy etc but i paid $1000 for a year of insurance, so my bad.
 
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Mauricio

Gold
Nov 18, 2002
5,607
7
38
I never took earthquakes in consideration for the same reason as Criss states (and even though I never checked, I suspect there might be a clause that covers them for that kind of damage, to not be bound to pay). However, I have considered to insure my house for fire. Never did it because of the cost.
 
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Dolores1

DR1
May 3, 2000
8,215
37
48
www.
Take out an extra insurance, pegged to your general house insurance, called Seguro Electronico Todo Riesgo. That insurance is one of the most cost-effective, and means you are covered if your computer is stolen, falls down, there is power failure...
You need to insure it at the cost of replacing it, that means you need to keep prices current.
 
franco1111

franco1111

Bronze
May 29, 2013
1,248
229
63
Gringo
The key is what Criss says. Will they pay? I don't seem much hard evidence either way. (Everybody has to make their own decision about whether something bad like earthquake will happen. My neighbor has hurricane windows, I don't). Know that the premiums are very sensitive to amount of coverage, I discovered this finally when trying to decide how much to get. You can adjust your premium to what you want to pay by adjusting amount of coverage. That is a significant wild card, how much will it cost to replace what you have? The first insurance agent asked me how much I thought! Did not go with that one.
 
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